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GUWAHATI: To ensure relief for the entrepreneurs of Assam, the Assam unit of North Eastern Small Scale Industries Association (NESSIA) has requested Union Minister of Finance and also the Governor of RBI (Reserve Bank of India) to consider extension of the loan moratorium for another three months from September 1, 2020.
President of the State unit of NESSIA, Sailen Baruah also requested Chief Minister Sarbananda Sonowal and Finance Minister Himanta Biswa Sarma to take up the matter with the Union Government for further extension of the loan moratorium, stated a release.
Expressing grave concern over the proposal to discontinue the 'Loan Moratorium' facility provided to MSME (Micro, Small, and Medium Enterprises), Housing and Cash Credit facility etc., with effect from September 1, 2020 by the bank authority, Baruah mentioned that the facility of moratorium was provided during the lockdown period of COVID-19 in the country.
Baruah and NESSIA secretary Kumud Ch Medhi discussed this issue in a meeting of MSME entrepreneurs over the issue.
The Association pointed out that there are 1,94,379 SSI units in Assam; and hardly a few Industries are surviving and rest all are closed due to impact on COVID-19. "A survey revealed that majority of the micro and small industry entrepreneurs in the State vehemently opposed such proposal and sought revival. The opinion of the entrepreneurs is that unless the proposal to discontinue of the loan moratorium from September 1, 2020 is not withdrawn, it will be hard to pay the loan EMIs with additional interest and moratorium to the respective banks," the release added.
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